REGAL ENTERTAINMENT GROUP (RGC) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

View amendments to this 10-K report filed on 3/22/2017
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Exhibit 99.1

 

 

Regal Entertainment Group Reports Record Results

for 2016 and Declares Quarterly Dividend

 

Knoxville, Tennessee — February 9, 2017 — Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor, today announced fourth quarter and full year 2016 results.

 

Total revenues for the fourth quarter ended December 31, 2016 were $812.6 million compared to total revenues of $848.2 million for the fourth quarter ended December 31, 2015.  Net income attributable to controlling interest in the fourth quarter of 2016 was $53.9 million compared to $55.0 million in the fourth quarter of 2015.  Diluted earnings per share(1) was $0.34 for the fourth quarter of 2016 compared to $0.35 for the fourth quarter of 2015.  Adjusted diluted earnings per share(1) was $0.33 for the fourth quarter of 2016 compared to $0.36 for the fourth quarter of 2015.  Net cash provided by operating activities was $162.6 million for the fourth quarter of 2016 and $217.7 million for the fourth quarter of 2015.  Adjusted EBITDA(4) was $172.6 million for the fourth quarter of 2016 and $175.7 million for the fourth quarter of 2015. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release.

 

Total revenues for the year ended December 31, 2016 were $3,197.1 million compared to total revenues of $3,127.3 million for the year ended December 31, 2015.  Net income attributable to controlling interest in 2016 was $170.4 million compared to $153.4 million in 2015.  Diluted earnings per share(1) was $1.09 for 2016 compared to $0.98 for 2015.  Adjusted diluted earnings per share(1) was $1.11 for 2016 compared to $1.08 for 2015.  Net cash provided by operating activities was $410.5 million for 2016 and $434.4 million for 2015.  Adjusted EBITDA(4) was $630.4 million for 2016 and $607.7 million for 2015.

 

Regal’s Board of Directors also today declared a cash dividend of $0.22 per Class A and Class B common share, payable on March 15, 2017, to stockholders of record on March 3, 2017.  The Company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, future prospects for earnings and cash flows as well as other relevant factors.

 

“Our continued focus on delivering a premium movie-going experience to our customers coupled with record industry box office results produced meaningful revenue growth, market share gains and record operating results for Regal in 2016,” stated Amy Miles, CEO of Regal Entertainment Group. “Looking ahead, we are excited about near-term opportunities for further growth and a robust and exciting slate of films scheduled for release in the coming years.”

 

Forward-looking Statements:

 

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included herein, other than statements of historical fact, may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the risk factors contained in the Company’s 2015 Annual Report on Form 10-K filed with the Securities and Exchange

 


The following information was filed by REGAL ENTERTAINMENT GROUP on Thursday, February 9, 2017 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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  • Form Type: Annual
  • Number of times amended: 1
  • Accession Number: 0001168696-17-000003
  • Submitted to the SEC: Monday, February 27, 2017
  • Accepted by the SEC: Monday, February 27, 2017
  • Period Ending: December 2016
Companies
 

RGC Morningstar

REGAL ENTERTAINMENT GROUP

$22.22 +0.31 (+1.41%)

Day's Range:
$21.86 to $22.49

52-Week Range:
$19.35 to $24.79

Volume:
2,627,222

Volume (Avg):
1,635,210

Earnings per Share:
$1.09

PEG / Short / PE Ratios:
2.53 / 9.27 / 20.39

Market Cap:
$3.47B

Book Value:
-5.38

EBITDA:
$574.90M